DGCX adds 44 blue-chip In­dian SSFS to its eq­ui­ties port­fo­lio

The Gulf Today - Business - - UAE -

DUBAI: En­cour­aged by strong in­vestor ap­petite and ro­bust trad­ing per­for­mance on its ex­ist­ing In­dian Sin­gle Stock Fu­tures (SSF), the Dubai Gold & Com­modi­ties Ex­change (DGCX), hav­ing re­ceived reg­u­la­tory ap­proval, has an­nounced the launch of an ad­di­tional 44 blue-chip In­dian SSFS, fur­ther ex­pand­ing its Eq­ui­ties as­set class ver­ti­cal. With the list­ing of ad­di­tional In­dian SSFS, lo­cal and re­gional traders can now par­tic­i­pate in the price per­for­mance of nu­mer­ous stocks that fall within the ma­jor in­dices in In­dia. Ad­di­tional SSFS would be listed for trad­ing on the Ex­change from De­cem­ber 8th, 2017.

DGCX In­dian SSFS mir­ror the price of se­lected un­der­ly­ing In­dian stocks, pro­vid­ing traders and in­vestors with the abil­ity to repli­cate price per­for­mance for their usual eq­uity trad­ing strate­gies with the ad­van­tages of fu­tures prod­ucts and cen­tral­ized clear­ing. This pro­vides THE ADDED Beneit of AC­CESS to IN­DIAN eq­ui­ties with the fa­mil­iar­ity of cash set­tle­ment, ap­peal­ing to mar­ket par­tic­i­pants from the pro­fes­sional and re­tail com­mu­nity.

The Ex­change’s In­dian SSFS wit­nessed strong growth from July to the end of Oc­to­ber 2017, trad­ing a to­tal of 851,108 con­tracts, up ten­fold from 2016, with a value of USD$ 5.42 bil­lion. In Oc­to­ber, the av­er­age daily vol­ume was 10,750 lots val­ued at USD 64 mil­lion per day, with Open In­ter­est of 2,042 lots.

Gau­rang De­sai, CEO of the Dubai Gold and Com­modi­ties Ex­change (DGCX), com­mented on the launch: “We’ve seen vol­ume grow­ing strongly in our In­dian SSF through­out 2017, which fur­ther en­cour­aged us to add whole range of In­dian SSFS in our Eq­uity port­fo­lio. The new In­dian SSF will con­tinue be traded and set­tled in USD be­yond In­dian mar­ket hours and comes with­out any for­eign ex­change risk, in a tax-free ecosys­tem.”

Some of the new ad­di­tions in­clude Hin­dus­tan Unilever, Tata Mo­tors, Tata Steel, Wipro, Hin­dus­tan Petroleum Cor­po­ra­tion, HCL Tech­nolo­gies, Bank of Bar­oda, Bosch Ltd, Zee En­ter­tain­ment En­ter­prises Ltd and In­dian Oil Cor­po­ra­tion Ltd.

Gau­rang added: “Pro­vid­ing our mem­bers and traders with ac­cess to par­tic­i­pate in the growth and price per­for­mance of In­dian bluechip com­pa­nies through our own plat­form is unique in the in­ter­na­tional mar­kets, and in line with our com­mit­ment to be pioneers in the growth of the re­gional de­riv­a­tives in­dus­try while grow­ing our Eq­ui­ties as­set class ver­ti­cal. Our en­deav­our is to meet the in­vest­ment and hedg­ing needs of a broader range of mar­ket par­tic­i­pants in the re­gion as well as world­wide, and in keep­ing with that goal, we will con­tinue to ex­pand the breadth and depth of our prod­uct range.”

Es­tab­lished in 2005, DGCX is the re­gion’s lead­ing de­riv­a­tives ex­change and the only one al­low­ing global par­tic­i­pants to trade, clear and set­tle trans­ac­tions within the Gulf re­gion.

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